Sutro Biopharma (NASDAQ:STRO) Sets New 52-Week High – Time to Buy?

Sutro Biopharma, Inc. (NASDAQ:STRO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.28 and last traded at $35.98, with a volume of 159464 shares trading hands. The stock had previously closed at $34.69.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STRO shares. Truist Financial raised Sutro Biopharma to a “strong-buy” rating in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft raised their target price on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Wall Street Zen raised Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Mizuho set a $50.00 target price on Sutro Biopharma and gave the company an “outperform” rating in a research report on Thursday. Finally, Citizens Jmp raised their target price on Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.78.

Sutro Biopharma Trading Down 2.8%

The stock has a market capitalization of $589.73 million, a PE ratio of -1.36 and a beta of 1.31. The firm has a 50-day moving average price of $25.73 and a 200-day moving average price of $16.40.

Institutional Investors Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRO. State of Tennessee Department of Treasury bought a new stake in shares of Sutro Biopharma during the 4th quarter valued at about $86,000. Jane Street Group LLC bought a new stake in shares of Sutro Biopharma during the 4th quarter valued at about $265,000. Bridgeway Capital Management LLC boosted its position in shares of Sutro Biopharma by 232.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Sutro Biopharma by 51.3% during the 3rd quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock valued at $104,000 after acquiring an additional 40,488 shares during the last quarter. Finally, Shay Capital LLC boosted its position in shares of Sutro Biopharma by 20.1% during the 3rd quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock valued at $271,000 after acquiring an additional 52,162 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.